Which of the Following Would Be Reported as an Asset

question 15

Multiple Choice

Which of the following would be reported as an Asset with Restrictions on Use?

• A) A cash contribution for a program activity, such as diabetes research.
• B) A cash contribution for a new building.
• C) Cash restricted by debt covenants with lenders.
• D) Cash restricted by the board for purchase of new computer equipment.

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Definitions:

Sacajawea

A Lemhi Shoshone woman who is known for her help to the Lewis and Clark Expedition in achieving their chartered mission objectives by exploring the Louisiana Territory.

Shoshone

A Native American tribe originally from the western United States, known for their cultural richness and history of resistance.

Meriwether Lewis

An American explorer best known for leading the Lewis and Clark Expedition to explore the western territories of the United States.